Nintendo NX Release Date Announced Alongside 'Legend Of Zelda' E3 Update And New Smartphone Games

Nintendo has announced that it will launch its next generation games console -- called NX -- later this year ahead of the product going on sale in March 2017, as the Japanese gaming giant reports a huge fall in revenue. The company announced the NX news at the same time as it revealed that for the fiscal year ending March 31, its earnings plunged 60.6 percent to 16.5 million yen ( 148 million) on revenue of 4.53 billion, down 8 percent. The company has struggled to compete with the Xbox One from Microsoft and Sony's PlayStation 4, with the Wii U failing to replicate the huge success the company experienced with the original Wii. Nintendo failed to give any details about the new console, but quashed speculation about a reveal at the E3 gaming trade show in June, saying the company would be focusing on its new game "The Legend of Zelda" in Los Angeles. Not much is known about the Nintendo NX, with Nintendo president Tatsumi Kimishima telling Time earlier this year that the console would not simply be an update to its current model.